Asset Returns and Labor Supply in a Production Economy

B-Tier
Journal: Journal of Money, Credit, and Banking
Year: 2014
Volume: 46
Issue: 5
Pages: 889-919

Authors (1)

Score contribution per author:

2.011 = (α=2.01 / 1 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

The introduction of an endogenous labor decision represents a challenge for models that seek to jointly explain asset pricing and business cycle facts. This paper shows that several improvements can be made if a standard real business cycle model is augmented with a novel preference specification that increases the stochastic discount factor volatility and simultaneously reduces the wealth elasticity of labor supply.

Technical Details

RePEc Handle
repec:wly:jmoncb:v:46:y:2014:i:5:p:889-919
Journal Field
Macro
Author Count
1
Added to Database
2026-01-25